Fifth Third 2Q profit up 58 percent

5:16 PM,
Jul. 18, 2013

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Fifth Third Bancorp on Thursday reported a second quarter profit of $594 million, or 66 cents per share.

That's an increase of 58 percent over the same quarter last year.

Bank officials attributed much of the gain to the sale of shares of Vantiv, its former payment processing subsidiary, which generated more than $240 million. Earnings from that sale accounted for about one-third of Fifth Third's earnings per share and helped the bank beat most analyst expectations. ...